250K is the new "rich"

$250000 is a LOT of money. I would retire in 10 years if I made that much...

Problem is with people in this country, the more they make, the more they want to spend

How logical is that ? How much stuff do you need ?

when houses cost 500k a year and cars can cost 20k at the least, 250 k is chump change. 250k is still considered middle class. dont penalize
success. a crappy house in new york costs almost a million bucks. good luck with that.

Originally posted by Zarniwoop
I keep seeing 250K thrown around as the cut-off point for "rich" people.

While campaigning, RobinObamaHood wanted to cut taxes for every family making less than 250K.

AIG bonuses are going to be taxed 90% on employees grossing more than 250K. (OK there are more complicated issues with that one, but it's still a
250K number)

Setting aside millionaires... What is with 250K???

You can't retire early making around 250K a year, especially in this economy. 250K is not the salary of a "rich" person/family. Yet, I fear the new
administration is targeting this number as the high-water mark for what anyone should reasonably make.

This is a message to all the up-and-coming American workforce peeps. Do not work extra hard and make over 250K a year or you will be punished. Shoot
for around 100K and kick back.

Government cheese is coming soon for everyone else.

LOL I hope you are not making anywhere near 250k if you are collecting a government paycheck, maybe working for a NASA boondoggle project or
something.

$250000 is a LOT of money. I would retire in 10 years if I made that much...

Problem is with people in this country, the more they make, the more they want to spend

How logical is that ? How much stuff do you need ?

when houses cost 500k a year and cars can cost 20k at the least, 250 k is chump change. 250k is still considered middle class. dont penalize
success. a crappy house in new york costs almost a million bucks. good luck with that.

[edit on 22-4-2009 by Dark Soldier]

That's why you pay monthly payments, you don't pay for a house all at once. According to you my parents couldn't have bought a $1.5 million house
making far less than $150k but they did. It's not so hard to do when you don't waste a lot of money.

when houses cost 500k a year and cars can cost 20k at the least, 250 k is chump change. 250k is still considered middle class. dont penalize
success. a crappy house in new york costs almost a million bucks. good luck with that.

That's why you pay monthly payments, you don't pay for a house all at once. According to you my parents couldn't have bought a $1.5 million
house making far less than $150k but they did. It's not so hard to do when you don't waste a lot of money.

Seems like you've misunderstood.

If your parents bought a 1.5 million dollar home, on a typical thirty year mortgage you're looking at over $6,000 per month on the payment.

In 12 months, that's $72,000 - plus.

If their income was less than 150k, and they were taxed like they were supposed to be, then you had beans and rice every night, and maybe some spam
for a treat on Sundays.

when houses cost 500k a year and cars can cost 20k at the least, 250 k is chump change. 250k is still considered middle class. dont penalize
success. a crappy house in new york costs almost a million bucks. good luck with that.

That's why you pay monthly payments, you don't pay for a house all at once. According to you my parents couldn't have bought a $1.5 million
house making far less than $150k but they did. It's not so hard to do when you don't waste a lot of money.

Seems like you've misunderstood.

If your parents bought a 1.5 million dollar home, on a typical thirty year mortgage you're looking at over $6,000 per month on the payment.

In 12 months, that's $72,000 - plus.

If their income was less than 150k, and they were taxed like they were supposed to be, then you had beans and rice every night, and maybe some spam
for a treat on Sundays.

Harte

edit on 5/8/2012 by Harte because: (no reason given)

Food doesn't cost tens of thousands of dollars every year, for those of us that don't eat at high end restaurants every night.

when houses cost 500k a year and cars can cost 20k at the least, 250 k is chump change. 250k is still considered middle class. dont penalize
success. a crappy house in new york costs almost a million bucks. good luck with that.

That's why you pay monthly payments, you don't pay for a house all at once. According to you my parents couldn't have bought a $1.5 million
house making far less than $150k but they did. It's not so hard to do when you don't waste a lot of money.

Seems like you've misunderstood.

If your parents bought a 1.5 million dollar home, on a typical thirty year mortgage you're looking at over $6,000 per month on the payment.

In 12 months, that's $72,000 - plus.

If their income was less than 150k, and they were taxed like they were supposed to be, then you had beans and rice every night, and maybe some spam
for a treat on Sundays.

Harte

Food doesn't cost tens of thousands of dollars every year, for those of us that don't eat at high end restaurants every night.

So, they bought a house, then stayed in it, in the dark, with no automobiles, and ate cheap groceries?

Once you take out taxes (remember, there's also state taxes, Social Security, etc.) the house payment and figure in things like utilities, car
payments, insurance, and household goods, not to mention upkeep on the house (I just spent almost 2 grand in one day just to fix one of my two AC
units - my house is only 9 years old and I replaced the roof last year) then, like I said, everybody can look forward to a good Sunday Spam dinner.

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